forty, 50, 60, 70% year-to-date. not too loud here, like it was for larry. a busy day on wall street. david: thank you very much. liz: u.s. construction spending fell in july by the largest number in a year. we have somebody who says, pay no attention to that. we are already passed the housing bottom and it set to ride the wave buys to have higher. joining me now, i h s chief economist. you're bullish, but you are a little lukewarm about the entire economy. let's start with the good stuff first, particularly housing. we have hit a bottom, because i'm more inclined to listen to you the name of home builders are hoping for a bottom. >> you have to be a little careful about the optimism within the industry, but if you look at a lot of the numbers coming out, the number of foreclosures, you look at the housing activity, home sales, home prices. they're all starting to look better than they did a year ago.